在现货以太 ETF 可以交易之前还需要做什么

现货以太币交易所交易基金最早可能在本周五或几周后开始交易。人们对现货以太币交易所交易基金（ETF）即将到来的可能性感到非常兴奋。以下是在发布之前还需要做的事情。

A handful of would-be issuers filed amended S-1 forms on Friday and Monday, suggesting progress is being made. Notably, the filings did not contain fee information, so there's likely to be at least one more round of comments from SEC staff before trading can begin. Invesco and Galaxy published a fee – 0.25% – on Tuesday. VanEck was the only would-be issuer to publish a fee prior to the latest round of updates.

少数潜在发行人于周五和周一提交了修订后的 S-1 表格，表明正在取得进展。值得注意的是，这些文件不包含费用信息，因此在交易开始之前，美国证券交易委员会工作人员可能至少会再发表一轮评论。 Invesco 和 Galaxy 周二公布了 0.25% 的费用。 VanEck 是唯一一家在最新一轮更新之前公布费用的潜在发行人。

To be clear, there's no firm timeline for approval. Unlike the 19b-4 filings the SEC approved in May, there's no imminent final deadline the agency must meet for a final decision, and so the back-and-forth between regulators and issuers could wrap up as soon as Friday or take a few weeks still. One individual familiar with the process told CoinDesk they expected the dialogue to continue for a few weeks.

需要明确的是，没有确定的批准时间表。与 SEC 5 月份批准的 19b-4 申请不同，该机构没有必须在最后期限内做出最终决定，因此监管机构和发行人之间的反复讨论可能会在周五或几周内结束仍然。一位熟悉该流程的人士告诉 CoinDesk，他们预计对话将持续几周。

The filings also do not detail expense ratios. If amended filings include those key details, that may signal they are the final set of amendments.

文件也没有详细说明费用比率。如果修改后的文件包含这些关键细节，则可能表明它们是最终的修改。

Should the SEC provide feedback by the end of the day Tuesday, it's entirely plausible the issuers will file a final set of amended forms by Wednesday. They would have to include fee information and any other details required by the regulator. For the spot bitcoin ETFs, it took the SEC two days to send out the final approvals after issuers had submitted fees. If that holds this time round, provided issuers submit their fees by Wednesday, it is possible that an approval could be in by Friday.

如果美国证券交易委员会在周二结束之前提供反馈，那么发行人完全有可能在周三之前提交一套最终的修订表格。他们必须包括费用信息以及监管机构要求的任何其他详细信息。对于现货比特币 ETF，在发行人提交费用后，美国证券交易委员会花了两天时间才发出最终批准。如果这一次的情况成立，只要发行人在周三之前提交费用，就有可能在周五之前获得批准。

The products could begin trading relatively quickly afterward.

这些产品随后可能会相对较快地开始交易。

Hours before the spot bitcoin ETFs were approved by the SEC in January, one of the listing exchanges, Cboe, added the funds to its “New Listings” page, saying that was “standard procedure” before the approval of a new ETF. If so, given that five of the potential ether ETFs will be listed on Cboe, we may well see a similar situation happening on the day that these ETFs receive approval.

一月份，在美国证券交易委员会 (SEC) 批准现货比特币 ETF 之前几个小时，上市交易所之一的芝加哥期权交易所 (Cboe) 将这些基金添加到其“新上市”页面，称这是批准新 ETF 之前的“标准程序”。如果是这样，考虑到五只潜在的以太坊 ETF 将在芝加哥期权交易所上市，我们很可能会在这些 ETF 获得批准之日看到类似的情况发生。